The president just announced new minimum wage guidelines effective August
-Large Companies over 250 employees increase of 19% Minimum wage now 21,000 RD
-Medium-sized companies 50 - 250 employees increase of 59% Minimum wage now 19,250 RD
-Small companies 11 - 50 employees increase of 20.2% Minimum wage now 12,900 RD
-Micro and new Companies up to 10 employees increase of 11% Minimum wage now 11,900 RD
Average increase: 24%
There is discussion about what constitutes each class - its based on both number of employees and on revenue.
The increase is almost all immediate, (with 500 RD happening in January 2022)
We are also discussing what increase will follow for those who make more than minimum wage!